south korean economy sees faltering activity in manufacturing sector
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

South Korean economy sees faltering activity in manufacturing sector

Arab Today, arab today

Arab Today, arab today South Korean economy sees faltering activity in manufacturing sector

The South Korean economy saw its manufacturing activities falter
Seoul - XINHUA

The South Korean economy saw its manufacturing activities falter, boosting expectations for new economy-boosting policies under the top economic policymaker who will take office soon, a government report showed Tuesday.
"Our economy maintained stable consumer prices and employment, but industrial activity reduced for the second straight month in May amid a sharp fall in activity in the manufacturing and mining sectors," the finance ministry said in its monthly economic assessment called Green Book.
The dim assessment was in line with comments made by Choi Kyung- hwan, nominated as Deputy Prime Minister and Finance Minister.
Choi said at the parliamentary confirmation hearing that he planned to boost the faltering domestic market by easing the housing market regulations such as the loan-to-value (LTV) and debt-to-income (DTI) ratios.
Choi said the economy is now in a bad shape enough to require the supplementary budget plan, heralding new economy-boosting policies, but he noted the extra-budget scheme will not be necessary for the time being.
Choi will take office after the hearing. The parliamentary confirmation is a ceremonial event in the country as the cabinet members cannot be vetoed by lawmakers except for the prime minister.
The ministry said the economic recovery remained sluggish amid weak investment and private consumption that had yet to see full recovery, noting the economy was facing several external risks such as the tapering of the U.S. quantitative easing, uncertainties in emerging economies and the weak trend of the Japanese yen.
Production in the manufacturing and mining industries shrank 2. 7 percent in May after falling 0.1 percent in April. The consecutive falls were attributed to less business days and lackluster exports.
Retail sales, which were hit hard by the deadly ferry disaster, increased 1.4 percent in May, rebounding from a 1.6 percent reduction in the prior month.The ferry Sewol capsized and sank off the southwestern coast on April 16, leaving more than 300 people, mostly high school students, dead or missing.
Production in the service industry rebounded from a 1.2 percent fall in April to a 0.6 percent growth in May.
Facility investment declined 1.4 percent in May after rising 2. 4 percent in the prior month, and investment in the construction sector plunged 6 percent in May, down from a 6.9 percent gain in April.
Consumer prices rose 1.7 percent in June from a year earlier, unchanged from the prior month and staying in the stable level.
The number of people employed increased 413,000 in May from a year earlier, down from a 581,000 expansion in April.
Exports, which account for about half of the economy, gained 2. 5 percent in June from a year earlier after falling 1 percent in May. .

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korean economy sees faltering activity in manufacturing sector south korean economy sees faltering activity in manufacturing sector

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korean economy sees faltering activity in manufacturing sector south korean economy sees faltering activity in manufacturing sector

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday